Somalia plans to introduce new notes by 2024

Country has become dollarised since the collapse of the central government in 1991

Central Bank of Somalia
Photo: Central Bank of Somalia

The Central Bank of Somalia is planning the first new issue of 1,000 shilling ($1.76) banknotes for more than three decades.

The last 1,000 shilling note entered circulation in 1990, the year before Somalia’s central government collapsed. The pre-civil war paper currency had continued to circulate, but over time the notes have worn out and counterfeits have driven out genuine pieces.

In a January 17 interview with Bloomberg, deputy governor Ali Yasin Wardheere indicated that a new note will be

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